A new measurement method of investor overconfidence

C-Tier

Journal: Economics Letters

Year: 2012

Volume: 114

Issue: 1

Pages: 69-71

Authors (3)

Huisman, Ronald (not in RePEc) van der Sar, Nico L. (not in RePEc) Zwinkels, Remco C.J. (Vrije Universiteit Amsterdam)

Score contribution per author:

0.335 = (α=2.01 / 3 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

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Abstract

We present an alternative measurement method of investor overconfidence, using unique survey data on stock market predictions of investors. We apply the Parkinson estimate based on extreme bounds around the stock forecast to deduce investor confidence. The results support overconfidence.

A new measurement method of investor overconfidence

Authors (3)

Abstract

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